A comprehensive estate plan typically incorporates a wide variety of tools, documents, and strategies into the plan in order to accomplish the numerous goals you likely have. If you are part of a blended family, estate planning is usually even more complicated. Thankfully, there are a number of estate planning tools that work extremely well [ ] The post What You Need to Know about a Life Estate appeared first on Amen, Gantner & Capriano | Your Estate Matters, L.L.C..
Hopefully, you realize the need to have a comprehensive estate plan in place; however, do you also know that you need to include an incapacity plan in your estate plan? Like many people, you may think of old age related diseases such as Alzheimer’s when you think of the possibility of becoming incapacitated. While Alzheimer’s, or another similar condition, could render you incapacitated later on in life you could also suffer a period of temporary or permanent incapacity at any time during your life before you reach old age. Therefore, you should include incapacity planning in your overall estate plan to ensure that you and your assets are protected should incapacity strike. Statistically speaking you stand a one in five chance of becoming incapacitated, at least temporarily, before you reach retirement age. A catastrophic motor vehicle accident, a debilitating disease or illness, or even a workplace injury could all lead to incapacity at any time. Should that happen, who will take